OfBusiness Pulses Dailies | 19th July 2023

Price

• Chana prices in Delhi’s market declined as Rajasthan and MP line varieties started trading at Rs. 5275 per quintal, depending on quality specifications.
• Masoor prices in the Delhi market rose by Rs. 25 per quintal, starting at Rs. 6,150 to Rs. 6,175 per quintal.
• Moong varieties experienced a notable decrease in prices in the Delhi market. The Green best variety started at Rs. 8175 to Rs. 8200 per quintal, the Mogar variety started at Rs. 7975 to Rs. 8000 per quintal, and the Kanpur variety opened at Rs. 7900 per quintal.

Demand and Supply

• Lentil prices in Indian markets are anticipated to be below the Minimum Support Price (MSP). The availability of lentil stocks will rely on the performance of lentil-producing states during the Kharif season, which is influenced by monsoon conditions. Adequate rainfall may lead to increased soil moisture.
• Moong prices have dropped due to weak support and lower arrival of low-quality goods. The supply of high-quality moong has decreased, resulting in a decline in prices. Nevertheless, there are no major indications of market weakness for moong as the sowing period in Karnataka and Maharashtra has ended, and favorable sowing conditions are reported in Gujarat and Rajasthan.

News

• The Indian government has introduced a scheme to sell government chana dal at affordable prices. Packed chana dal will be sold at Rs. 60 per kilo, and a 30-kilo pack will be available for consumers at Rs. 55 per kilo. The sale will be facilitated by NAFED (National Agricultural Cooperative Marketing Federation of India) under the guidance of Union Minister Piyush Goyal.
• The Canadian market is experiencing a subdued period due to reduced demand from exporting nations. Canadian statistics indicate that red lentil production is projected to decline by 20% to reach 14-15 lakh tons, while green lentil production is expected to increase by 10% to reach 7 lakh tons.
• Canada exported 258,000 tons of red lentils in May, with 91,000 tons going to India and 67,000 tons to Turkey. Additionally, 47,000 tons of green lentils were exported. The total expected export is set to reach 2.25 million tons.

OFB’s Opinion

• As the festival season approaches, the demand for chana and besan is expected to surge, making it necessary to take measures to control prices. Consequently, it is anticipated that the prices of Chana may experience a slight downward trend in the coming days.
• Based on current observations, while there have been fluctuations in the prices of other pulses such as moong, tur, and urad, it is recommended to expect overall stability in these markets in the upcoming days.